It’s getting hot in here!
Things are getting spicy now as the bond market is feeling the heat of government spending and increased interest rates.
Is the market about to crash?
Here is your weekend crypto update…you’ll want to take a seat for this one.
Here’s what’s in today’s issue:
- My portfolio updates.
- Rebecca shares her thoughts on the bond markets breaking as US debt explodes, a new friendtech fork on Avalanche, El Salvadore launching the first volcano-powered Bitcoin mining pool, a new layer 1 using USDC as their main currency & the US vs SBF.
- Altcoin Alpha by David.
- Airdrop of the week by Jesse.
- Jesse has a deep dive on Maverick Protocol.
- Sam has a report for you on what we can learn from 2 recent NFT flops.
- In case you missed it by Rebecca.
For any crypto related questions please comment on the website.
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Buys and Sells
Nothing new this week. Nice to see Bitcoin finally doing something, even if it is still just within the normal range.
PS: I joined Stars Arena, the new socialfi app on Avanlanche. Not sure how it will go, but come and check it out and say hi!
Open BUY and SELL Orders
Nothing this week.
Current Farming/DeFi Positions
- Maker’s Summer App Loaned ETH to borrow USD DAI.
- Trader JOE: ETH/USDC on Arbitrum
- Syncswap: ETH/USDC on ZKsync
- Horizon: ETH/BUSD on Linea
- Baseswap BSWAP/ETH on BASE
- Quickswap QUICK/USDC on Polygon zkEVM
- Linea Bank ETH supply on Linea
- Lendle supplying USDC on Mantle
- Radiant Capital LP RDNT on Arbitrum
- Jedi Swap ETH/USDC LP on Starknet
- Dackie Swap ETH/USDC on BASE
- Mantis USDC on Polygon zkEVM
- Eralend ETH on zkSync
- Prisma Finance on ETH Mainnet staked cbETH
- Prisma Finance on ETH Mainnet mkUSD/FRAX pool
- Claystack on ETH Mainnet staking ETH
NOTE – Most of these positions are very small
💸 Bond Market Breaks As US Debt Explodes
Houston, we have a spending problem.
The US national debt crossed $33 trillion in September and is on track to hit $34 trillion by the end of October.
With higher interest rates, the government is adding a staggering $1 trillion a month to its never-ending debt pile.
In one day alone, $275 billion of debt was added to the total—that’s more than half of Bitcoin’s entire market cap. The higher-for-longer stance on rates is putting more stress on the bond market.
This week the US 10-year Treasury hit 4.80%, a 16-year high. Both Ray Dalio and bond king Bill Gross believe it could rise to 5% and higher.
This puts long-term bonds at a greater loss than the stock market during the 2008 Financial Crisis.
The sell-off continues across the pond with the UK suffering a similar fate as 30-year bonds reached a 20-year high of 5.05%.
Rising interest rates have pushed the cost of its national debt to 3.5x the education budget!
The UK’s Metro Bank is feeling the heat too after announcing a £600M raise to prop up its balance sheet causing its stock price to tank 38.5% in 5 days.
So does…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
